Everything You Need to Know About Otherdeed for Otherside and Kodas
You Don’t Want to Miss Any Details of The Land
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Key Insights
- Following April 30th’s Otherside sale, ApeCoin (APE) fell from $24.86 to $5.36;
- The kyc mint represents 55k of the initial 100k plots of lands made available from the 200k to be made in the future.
- Users paid as high as 63,893.01 ETH ($177 million) in gas fees, triggering a backlash of disappointment;
- The general consensus in the market is that Koda is proof of rarity;
- There are a total of 15 categories of traits of the land;
- Community members focus on floor price and future metaverse planning;
- After the big show, other blue chips projects began to rebound.
What Really Happened With ApeCoin’s Otherside Metaverse Land Sale? Otherside Land Mints with Millions Lost in Gas Fees? What is a Koda?
How many different kinds of lands are there? What does a five-star land mean? What artifacts and resources are more valuable than others? What about their current floor price?
Wanna know more?
Let’s get started.
Nearly $200M Gas Burnt in Hours
At the time of this writing, Otherdeed for Otherside ranked #1 by trading volume on the OpenSea marketplace for the last 24 hours and of course the last 7-days. According to Nansen, Otherdeed for Otherside has been the top-selling NFT collection over the past 24h with a sales volume of about 111k ETH.
It’s not too much to say that the Otherside metaverse land sale was a success.
It is worth mentioning that the Otherside project is not the ordinary 8888 PFP or 10k project, all the 55k plots of land sold out immediately.
I heard that a lot of people paid a large amount of money on gas fees.
The burning rate of Ethereum hit a new ATH due to the Otherside NFT mint. Users paid as much as 5 ETH in gas fees for a transaction.
Wow, that is a shit show.
A lot of people didn’t like this mint even if Yuga Labs were refunding the gas fees.
From the following pic, you can find that users even pay as high as 63,893.01 ETH ($177 million) in gas fees just to be able to mint lands in the Otherside metaverse, a non-existent metaverse.
It definitely created some of the highest gas fees in the history of the Ethereum network.
That is totally crazy in my opinion. My facial expression is just like the monkey below.
The Rise and Fall of ApeCoin Prices
When ApeCoin first launched on March 17, it sold at $5 and reached an all-time high of $26.70 as of April 28 before the Otherside mint.
Following April 30th’s Otherside sale, ApeCoin fell from $24.86 to $16.73.
But why…?
I expect it’s due to the cancelling of the Dutch auction.
Otherside sold the Otherdeed NFTs for a flat price after previously planning a Dutch auction launch, apparently, reducing ApeCoin demand.
The rise and fall of ApeCoin prices is just a reflection of the demand and supply game. It also can be the result of the old adage, “Buy the rumor. Sell the news.”
A Dynamic NFT With Resources and Kodas
- This icon represents the sediment your land has. Each sediment has a unique frame (environment) that goes with it; Crimson environment and Biogenic Swamp sediment are shown in the Figure above.
- The dots on the top represent land rarity, tiers 1–5.
- If your land has an artifact, it will be displayed below the land and the dots represent resource rarity, tiers 1–3.
- If your land has a Koda, its token ID is displayed there.
There are a total of 15 categories of traits for the land.
Artifact (74), Category (8), Eastern Resource (74), Eastern Resource Tier (1–3), Environment (29), Environment Tier (1–5), Koda (10k), Northern Resource (74), Northern Resource Tier (1–3), Sediment (5), Sediment Tier (1–3), Southern Resource (74), Southern Resource Tier (1–3), Western Resource (74), and Western Resource Tier (1–3).
I didn’t come across any whitepaper explaining all the traits. So I cannot guide you through them. By the way, even if you got 3 tiers in one trait, the overall value may not be as much as you imagined.
Anyway, together these traits determine the rarity rank of your NFT.
“Every Otherdeed is a dynamic NFT, built as a collection of all of its elements, from resources to Kodas. Rather than a static representation of a piece of land, your Otherdeed for Otherside is designed to evolve along with what you choose to do in the game.”
According to the official website, you will find that Otherside offers an open SDK (Software Developers Kit) for users, and they have the slogan “IT’S YOUR WORLD TO BUILD.
Beside, Otherdeed for Otherside is in close cooperation with Animoca Brands, a leader in digital entertainment, blockchain, and GameFi.
It’s pretty awesome. I think it makes sense that they would want to have some kind of way to provide value to your land, so you can continue to join the game and evolve with the metaverse.
With these being dynamic and the potential to upgrade or evolve, maybe the dots four and five are just a start, maybe you’ll be able to evolve it in a more fun way with resources you are mining in your land. Even if you start with the lower tier you can make it richer in the future.
It’s a theoretical possibility.
What Is a Koda?
Each plot of land will have the possibility of containing natural resources, rare artifacts, and for the lucky few, a Koda!
But what was that? What would it involve? And what could we do with Koda?
No clue!🤦‍♂️
According to official sources:
“Meet the Kodas,” the intro posted on the Otherside website, “The primal beings that have ushered us into the Otherside. We don’t know why they’ve brought us here, or what their affinity to this land is. If you are lucky enough to meet a Koda, tread cautiously.”
Kodas, as locals of Otherside, we don’t know yet what their roles in the future metaverse, we can only know that they are an important part of the game.
There are a total of 10k Kodas in 100k plots of land parcels. At the time of writing, the floor price for an Otherdeed with a Koda on it is around 20 ETH.
There, of course, has been rumors that Kodas will become a separate PFP NFT project.
At present, the general consensus in the market is that Koda is proof of rarity.
Some lucky dogs got one on their land property.
Did you get one?
The fact that these lands are dynamic NFTs. If you don’t have Koda, there’s also potentially an airdrop Koda coming or you can exchange with others in the future.
Who knows? So no need to cry.
All in all, I envy you holding such a valuable project. The Mutant Ape drop, then Bored Ape Kennel Club, then ApeCoin airdrop, and now a plot of land that gonna be the part of a real metaverse soon. Yuga Labs had a nose for benefiting their OG holders.
Blue Chips About to Explode?
At first, the market is red all around, collectors are selling NFTs in order to buy Otherside land. Many users sold their blue-chip projects, resulting in a reduction in the floor price of blue-chip projects.
Now, we are seeing the floor prices of other blue chips stay stable or even rise after the Otherside land sell.
The blue chips have never been stronger.
Especially Doodles.
Doodles’ Floor price rose by 38% over the last 7 days, at an ATH of 25.25 ETH.
After the Otherside land sales, Otherside holders who flipped quickly are turning profits into other blue-chip projects.
It is indisputable that blue chips continued to go from strong to stronger.
Do you hold any blue chips? Feel free to share with us in the comments down below!
Last but not least, if you enjoyed this article, please clap it up. Medium writers are fueled by claps. It only takes a few seconds and the more claps the better! Thanks for reading. 🧎🏼‍♂️
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